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Property and Equipment
 12 Months Ended
Jan. 29, 2022
Property, Plant and Equipment [Abstract]  
Property and Equipment Property and Equipment
Property and equipment is summarized as follows (in thousands):
Jan 29, 2022Jan 30, 2021
Land, buildings and improvements$51,530 $53,553 
Leasehold improvements354,040 374,666 
Furniture, fixtures and equipment433,158 426,044 
Construction in progress18,749 6,486 
Assets under finance leases36,694 30,663 
894,171 891,412 
Less accumulated depreciation and amortization665,406 675,216 
$228,765 $216,196 
During fiscal 2022 and 2021, the Company entered into finance and operating leases related primarily to computer hardware and software. The accumulated depreciation and amortization related to assets under finance leases was approximately $14.8 million and $10.1 million as of January 29, 2022 and January 30, 2021, respectively, and was included in depreciation expense when recognized. See Note 8 for more information regarding the related finance lease obligations.
Construction in progress represents the costs associated with the construction in progress of leasehold improvements to be used in the Company’s operations, primarily for new and remodeled stores in retail operations.
Impairment
The Company recorded asset impairment charges related to property and equipment of $2.4 million, $35.0 million and $7.5 million in fiscal 2022, fiscal 2021 and fiscal 2020, respectively. The asset impairment charges related to certain retail locations primarily in North America, Europe and Asia driven by lower revenue and future cash flow projections from the ongoing effects of the COVID-19 pandemic in fiscal 2022 and fiscal 2021. The asset impairment charges for fiscal 2020 related primarily to certain retail locations in Asia, Europe and North America resulting from the underperformance and expected store closures.
Impairments to property and equipment are summarized as (in thousands):
Jan 29, 2022Jan 30, 2021
Aggregate carrying value of property and equipment impaired$24,422 $36,050 
Less property and equipment impairment charges2,414 34,996 
Aggregate remaining fair value of property and equipment impaired$22,008 $1,054 
The Company’s impairment evaluations included testing of 496 retail locations and 834 retail locations during fiscal 2022 and fiscal 2021, respectively, which were deemed to have impairment indicators. The Company concluded that 42 retail locations and 373 retail locations, respectively, were determined to be impaired, as the carrying amounts of the fixed assets exceeded their estimated fair values (determined based on discounted cash flows) at each of the respective dates. Refer to Note 1 for a description of other assumptions that management considers in estimating the future discounted cash flows. If actual results are not consistent with the assumptions and judgments used in estimating future cash flows and asset fair values, there may be additional exposure to future impairment losses that could be material to the Company’s results of operations.